Scania Agrees to Buy Northvolt’s Heavy Industry Battery Business

Truck maker Scania agreed to buy Northvolt’s heavy industry business, as the battery maker continues to work through a restructuring process, the Wall Street Journal reported. “This acquisition will provide access to a highly skilled and experienced team and a strong portfolio of battery systems built in Gdansk for industrial segments, such as construction and mining, complementing Scania’s current customer offering,” a Scania spokesperson said.
Sweden
United States
Read more

Construction Worst-Hit U.K. Sector for Insolvency as Debt Burden Bites

Construction was the worst-hit sector for insolvencies in the year to December 2024, new Insolvency Service figures show, Construction News reported. Some 4,032 building businesses become insolvent, accounting for 17 per cent of all such cases in England and Wales. The next worst-affected sectors were wholesale and retail (3,572), and accommodation and foodservice (3,464). Kelly Boorman, head of construction at accountancy firm RSM UK, said that the figures reflected the amount of debt burden and distress in the building supply chain.
United Kingdom
Read more

No Change in the Number of Netherlands Bankruptcies in January Compared to December

The number of bankruptcies in the Netherlands stayed at the same level in January as it was in the previous month when corrected for court hearing days, NLTimes.com reported. Statistics Netherlands reported that the number of bankruptcies was below the same time as last year. There was a significant increase in the number of bankruptcies in 2024. Statistics Netherlands reported last month that almost 4,300 companies were declared bankrupt. That is an increase of 30 percent compared to 2023. Monthly figures can fluctuate.
Netherlands
Read more

Pret A Manger Hit with Winding up Petition by Water Company

Sandwich stalwart Pret A Manger has been hit with a winding up petition by a business water supplier over unpaid debts, City AM reported. According to the High Court filing system, Pret A Manger (Europe), a subsidiary of Pret Intermediate Company, has been named in a winding up petition by Castle Water, an independent business water supplier. The case was filed by the water company’s lawyers at Addleshaw Goddard on Thursday, with the Official Receiver noted as a third party. City AM understands that this is in regard to uncontested debt.
United Kingdom
Read more

Lilium Faces Second Insolvency as Funding Uncertainty Continues

German eVTOL developer Lilium is facing another financial crisis as the company struggles to secure a critical funding package that was expected to stabilise its operations, Zag Daily reported. After announcing a €200 million rescue deal on Christmas Eve, Lilium has so far received only a fraction of the promised funds, leaving it unable to pay salaries and forcing it to suspend operations. With time running out, the company may be forced to file for insolvency if the remaining investment does not materialise.
Germany
Read more